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Modern Land (China) plans add-ons to green notes due 2022, 2024
By Marisa Wong
Los Angeles, Aug. 31 – Modern Land (China) Co., Ltd. is proposing to issue additional 11½% green senior notes due 2022 and additional 11.95% green senior notes due 2024, according to a company announcement.
The add-on 2022 notes will be consolidated and form a single series with the $250 million of 11½% notes due Nov. 13, 2022 issued on July 13.
The add-on 2024 notes will be consolidated and form a single series with the $150 million of 11.95% notes due March 4, 2024 issued on March 4.
Deutsche Bank AG, Singapore Branch, Merrill Lynch (Asia Pacific) Ltd., Hongkong and Shanghai Banking Corp. Ltd., Guotai Junan Securities (Hong Kong) Ltd. and Morgan Stanley & Co. International plc are joint bookrunners and joint lead managers for the Regulation S add-on offering.
Proceeds will be used to refinance existing debt.
The property developer is based in Beijing.
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